Business

Vintage FM came to promote our culture, a dream come through – Abiola Adedoja

Published

2 years ago

July 30, 2023

The Managing Director of Vintage 93.7FM Ibadan, Mrs. Abiola Ibrahim Adedoja, studied Agricultural Engineering up to Master’s degree level but has veered to media management.

In this interview, Adedoja shared her experience in the Media industry, explaining the idea behind Vintage FM:

I had been thinking of having a platform through which I can address people, most especially women but how it would happen, I didn’t know. God has a way of making things happen. It was a dream I had been nurturing but how it would happen, I wouldn’t know. In 2019, I met a friend and we were talking about radio station. We talked about what it might take us to set up a radio station. We said if we had the radio station, what exactly do we want to achieve with it? We agreed that we should promote our culture and also promote religion and create further understanding of our religion among other things. In 2022, the dream came true.

How has it been since that time, looking back to the idea and the road you travelled to bring it to fruition and the goals you set for yourselves?

It has not been easy owing to challenges here and there but we give God all the glory. We are tackling and surmounting the challenges as they present themselves. We know that as we are forging ahead it’s going to be better.

Between idea and reality, what are the tangible things? A functional radio station, media management and management of people and so on cannot be totally left in the realm of ideas. Would you say the vision is in motion or you would change direction?

To a very large extent, we have been able to translate the idea. We have been able to bring the idea to reality and make it a tangible thing. Now, we are working to fine-tune things and we can see that things are taking the right shape as we envisage. We have been moving with the team to translate the idea. Like I said, we are tackling issues as they crop up and we are making steady progress.

When we look at the cultural and, sometimes, religious issues that often crop up when issues involve the womenfolk in Africa, do you think things are better being managed now than before?

Before now, it was a difficult thing for women to be in positions of authority but in recent times the situation is changing. Women are now accepted at the helm of affairs because women have been tested and it has been confirmed that women can do a whole lot of things other than the traditional things we associate with women. However, some of the successes men and women achieve are with the assistance of men and women. It is a common saying that ‘behind every successful man there is a woman’ I will also say that behind every successful woman too, there are men. It could be a father, a brother, an uncle, her friends, her colleagues and so on with whom they share ideas and how to translate them. So, I think it is the same for both genders. However, I hope that we are moving in the right direction in Nigeria with regards to gender issues and I believe that it can only get better.

Women now voice out and some of the inhibitive cultural practices are gradually giving way. The culture is now getting used to women handling some of the things they initially thought that we could not do. Women are no longer limited to the kitchen; women multi-task a lot and they are still doing that even more than ever before. Aside the kitchen and the ‘other room’, women are playing actively in the banking sector, in ICT, in Engineering and nearly all the sectors of human endeavour. I play in the media sector which wasn’t such a common thing. More women are now getting involved – even in politics and the 35 per cent affirmative action could be better. However, I think there should still be more representation of women in politics and they should be given more support in their respective fields. There are women doing excellently in many professions and entrepreneurial endeavours and they are making impact in the community and the people around them.

Women media executives like you are not very many. In Oyo State where there are dozens of radio stations, and Ibadan where most of them are operating, women owners are very few. What is it like out there as a lone ranger in this jungle? Are you intimidated?

It is not in any way intimidating. We are all operating based on the same set of rules and guidelines. So, there is nothing to be afraid of. Secondly, the people I meet, both men and women, have been supportive. The men folk that I meet have been supportive and have been helpful with some of the things we need. I heard that the new COO of Splash FM is a woman. So women are coming up. Something like sisterhood is coming up.

So, are you ready to take over or you would just be tagging along?

I will not say we are taking over, but we are ready to play the game with them. For us at Vintage FM, our mission is to bring the lost values in the society back. It is our aim to put a touch of positive Western civilisation to our culture and society so as to make it more acceptable. Our vision is to deliver unbiased information and make positive impact in our community. These are the ideas driving us and there is nothing about it other than to make our society better for all and sundry.

If you have an opportunity to sit one-on-one with Governor Seyi Makinde of Oyo State, vis a vis what the media world is like, what would you tell him?

To the best of my knowledge, he is doing good in many facets of the Oyo State economy and he has been good to the media. However, I will tell him to be more accommodating of the media.

Your immediate police in the broadcast business is the National Broadcasting Commission (NBC). Does this agency inhibit you or, does the NBC affect the way you look at the broadcast media business?

I think the NBC has been like the Big Brother, monitoring what we feed the listening public. Rather than see the commission as an inhibition, I think they are of assistance. They ensure that the public is not misled or misguided by what we feed the society through our stations. The media has a unique audience and the NBC is there to ensure that we do not mislead or misinform them.

There are issues of taxation in Nigeria. Sometimes, it could be multiple-taxation; sometimes, the issue could be the amount payable. The print media is not left out in this. What do you think the government can do for the media outfits in this regard?

My recent experience with the Oyo State government is worrisome. We had expected the government to have given emerging and new businesses some breather as the businesses are set up. The window would allow then breathe and settle in before they are levied some amounts as tax. Sadly, this is not what obtains. Aside the PAYE tax that we do on the staff members, and the one paid by the owners of the company, the company itself also pays and the bill we got recently was ridiculously high. We started this business in December 2022 and we have received different types of levies and taxes that are, to put it mildly, shocking. I think they should allow new businesses some time to grow. There should be a tax holiday to allow them settle and master the ropes and get themselves immersed in that business before the taxes begin to roll in.

Is there a convergence of broadcast executives in Ibadan through which issues as the one you raised above could be tables and shared for a healthier business environment?

There is a platform to which most of the media heads belong. Media staff members also have theirs. On the platform we share ideas and discuss various issues. However, I think it is possible to have a kind of association through which issues like that of taxation and how the authorities go about it can be tabled as a collective issue and discussed. For now, I have not seen us doing that but I think it is possible. I agree that we need a group that can present as a common front for media outfits with regards to issues bordering on taxation, welfare and promotion of the broadcast outfits.

So, what stands Vintage 93.7 FM out?

I think it is the fact that we have a crop of young and purposeful staff members who are desirous of results. One of the best things that can happen to you as a leader is to have a crop of dedicated people in your team. That is one of our fortes at Vintage FM and we are grateful for that. Then we have some unique programmes which people can also listen to on our social media platforms and our demography is from the age 18 to 75. We are also on Radio Garden and through that, people can listen to us from anywhere in the world. Our philosophy in terms of programmes is 70 per cent Yoruba and 30 per cent English. In less than one year, we were able to gather eminent personalities, including the Chief Imam of Ibadanland for our Ramadan Lecture which was delivered by Dr Bada. We also organised a grand Children’s Day programme in which 11 different companies supported us. People were wondering how we were able to pull this off in barely 6 months of coming up as a radio station. Three of our children-winners at the Children’s Day celebration won tickets to train at RAIN – Robotics and Artificial Intelligence Nigeria, which is worth about N1million each.

What are the things you readily tell children to motivate them, especially the girls?

I always tell them: If you believe, you can and where there is a will there is always a way. Have the dream, believe you can do it. Pursue it. You will be there.

Related Topics:Adedoja Ibadan Vintage FM

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Business

The Buy-and-Hold Strategy for Lagos Real Estate Investors by Dennis Isong

Population is increasing, businesses are expanding, and land is becoming more valuable. If done right, a buy-and-hold strategy can secure long-term wealth for any investor.

Published

55 minutes ago

February 23, 2025

OCHEFA

If you’re thinking of making serious money in Lagos real estate, you must understand one of the most reliable strategies: buy-and-hold.

This is when you buy a property, hold it for years, and allow its value to appreciate while earning rental income.

Lagos is a dynamic and ever-growing city.

Population is increasing, businesses are expanding, and land is becoming more valuable. If done right, a buy-and-hold strategy can secure long-term wealth for any investor.

Why Buy-and-Hold Works in Lagos Land and Property Appreciate Fast Lagos is a land of gold—figuratively.

With high demand and limited land space, properties in strategic locations appreciate fast.

If you bought land in Lekki Phase 1 twenty years ago, you could sell it today for more than 20 times the original price.

The earlier you buy, the better. Steady Rental Income Lagos is home to millions of people, and many prefer renting rather than buying.

A well-located property can generate steady rental income that grows over time.

The more people move into Lagos, the higher the rental demand.

Beating Inflation Nigeria’s economy has its ups and downs, but real estate always finds a way to stay ahead of inflation.

While the value of the naira fluctuates, properties continue to appreciate. This makes real estate a safe hedge against inflation.

Steps to Succeed in the Buy-and-Hold Strategy

1. Pick the Right Location Lagos has different property markets. Some areas grow faster than others.

Choose a location based on your investment goal.● For rapid appreciation: Look at developing areas like Ibeju-Lekki, Epe, or parts of Ikorodu.● For steady rental income: Invest in places with high demand for rentals, like Yaba, Surulere, Lekki, or Ikeja.● For luxury and long-term gains: Consider high-end areas like Ikoyi, Banana Island, or Victoria Island.

Do your research, visit the location, and study the growth trends before investing.

2. Buy from a Trusted Source Lagos real estate is lucrative, but it’s also filled with scams.

Many investors have fallen victim to land disputes or properties with unclear titles.

Ensure that the property has proper documentation—like the Certificate of Occupancy (C of O) or a Governor’s Consent.

Work with a reliable real estate professional who understands the Lagos market.

Don’t fall for “cheap deals” without verifying ownership.3. Decide Between Land or Built Property ● Buying land is great for long-term appreciation. You can hold it for years and sell later at a higher price.● Buying a house or apartment gives you immediate rental income while still appreciating in value.

If you have the patience to wait, land investment is powerful. If you want regular cash flow, go for rental properties.

4. Maximize Rental Income If your goal is passive income, make your property attractive to tenants. Consider:● Security: Lagos tenants prioritize safety.● Amenities: Good roads, water supply, and electricity boost rental value.● Short-let options: Platforms like Airbnb can give you higher returns, especially in areas like Lekki and Victoria Island.

If your property is well-maintained, you’ll attract quality tenants and increase your rental value over time.

5. Be Patient and Think Long-Term Real estate is not a quick-money scheme. The buy-and-hold strategy requires patience. Lagos properties appreciate, but it takes time.

Many investors regret selling too early when they see the prices skyrocketing years later.

Think of real estate like fine wine—it gets better with time. Potential Risks and How to Overcome Them Government Policies Policies like land use charges or demolitions can affect investments.

Stay updated with real estate laws in Lagos. Work with professionals to ensure your property is compliant.

Maintenance Costs

If you own rental property, you’ll need to maintain it. Set aside funds for repairs and upgrades to keep it attractive to tenants.

Bad Tenants

Some tenants may refuse to pay or damage your property.

Screen tenants properly before renting out your property, and have a solid lease agreement.

The buy-and-hold strategy is a proven way to build wealth in Lagos real estate. It allows you to generate rental income while your property appreciates in value.

With proper planning, the right location, and patience, your investment will reward you in the long run.

So, are you ready to secure your future with Lagos real estate? Start now—because five years from today, you’ll wish you had.

Dennis Isong and team.

+2348164741041+2348028667565

Business

President Pledges Support for Fintech Companies As Flutterwave Seeks Listing on NGX

The CEO of Flutterwave, Agboola, said the company has made it easy for Nigerians to pay for some global services with Naira and provided payment platforms for Nigerians in the diaspora who are willing to send money to families and relatives in the country.

Published

13 hours ago

February 23, 2025

OCHEFA

▪︎In picture: President Bola Ahmed Tinubu, Minister for Finance and Coordinating Minister of the Economy, Mr Wale Edun, Chief Executive Officer Flutterwave, Mr Olugbenga Agoola and CEO Alami Capital, Miss Olu Seun Olufemi-White, after a Meeting at the Presidential Villa Abuja.

President Tinubu said his administration will support businesses in the financial technology sector that provide payment infrastructure services for Nigerians and Africans.

He said this when he received the leadership of Flutterwave and Alami Capital in Abuja on Saturday afternoon.

Flutterwave, a leading Fintech company founded by young Nigerians and headquartered in Lagos, operates in the U.S., Canada, Nigeria, Kenya, Uganda, Ghana, South Africa, and 29 other African countries. Olugbenga Agboola, the CEO; Adeleke Adekoya, a co-founder; Oluwabankole Falade and Mitesh Popat, represented Flutterwave at the meeting.

Ms Oluseun Olufemi-White represented Alami Capital as its CEO. Minister of Finance and Coordinating Minister of the Economy Mr Wale Edun led the delegation to meet President Tinubu.

Dr. Armstrong Ume Takang, the Managing Director and Chief Executive of the Ministry of Finance Incorporated (MOFI), and Dr. Inuwa Kashifu Abdullahi, the Director General/ Chief Executive Officer of the National Information Technology Development Agency (NITDA), also attended.

President Tinubu said Nigeria is genuinely open to business, and as President, he is determined to remove all obstacles to allow companies to thrive.

He commended Flutterwave’s commitment to building capacity in the digital economy sector, especially as it is being made possible by energetic, young Nigerians.

He said he is honoured to be the President of a country with such a youthful and resourceful population.

He said the leadership Flutterwave provides in the digital world is what Nigeria needs today to grow its economy and make life easier for most of its population.

Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, said Flutterwave has made significant progress since its establishment 10 years ago.

It has created jobs and helped diversify the economy by providing innovative digital platforms and payment services in Nigeria and across Africa.

He said Flutterwave, valued at over $3 billion, is a Nigerian export and brand employing over 1,000 Nigerians.

He said the company seeks to be listed on the Nigerian Exchange and solicited the President’s support.

The Managing Director and Chief Executive of MOFI, Dr. Armstrong Ume Takang, said that as Africa’s biggest economy, Nigeria must demonstrate its economic prowess by strategically positioning products and services by Nigerian companies, such as Flutterwave, in the homes of all Africans.

He said Flutterwave spends millions of dollars monthly on hosting services, but that money goes to other countries.

He suggested supporting Galaxy Backbone’s hosting services to enable it to handle companies like Flutterwave.

Business

FG Mandates IRWG to Revives over 700 Moribund Industries

The 22-member IRWG team was inaugurated in Abuja, on Thursday this week, by Senator John Owan Enoh, Minister of State for Industry, and co-chaired by Francis Meshioye, President of the Manufacturers Association of Nigeria (MAN).

Published

1 day ago

February 22, 2025

OCHEFA

The Director-General of the Manufacturers Association of Nigeria (MAN) has affirmed that the recently inaugurated Industrial Revolution Working Group (IRWG) by the Federal Government, will go a long way in “waking up those more than 700 industries that have been shutdown for one reason or the other across the manufacturing sector and ensure that they don’t leave the country or be shut again”.

Ajayi-Kadir, expressed the confidence during the launch of the IRWG members team, saying that the group would ignite the revival in the sector and ensure the creation of an environment that is conducive.

Other members of the group include the Permanent Secretary of the Ministry of Industry, Trade and Investment. , representatives from the Ministry of Power, the Ministry of Finance, MAN, the Nigeria Customs Service (NCS), the Nigeria Ports Authority (NPA), the Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACIMMA), and others.

IRWG Mandates

The Minister said that the mandates of the revolution group are :

1. Rejuvenate, innovate, and elevate Nigeria’s industrial future.

2. The IRWG would focus on addressing regulatory bottlenecks, power supply issues, and customs procedures.

3. The IRWG should anchor its efforts on four pillars which include revitalizing dormant industries, infrastructure, and energy solutions, technology innovation, access to finance, and competitiveness.

4. Conduct meticulous audits of industries that once thrived but have since stagnated.

5. Formulating bespoke intervention strategies for their resurgence.